Great Article to Read Prior to Retirement

This article in the Motley Fool takes you through a number of items to think about and plan for before you retire. Waiting until your 65 is usually too late for you to start planning. One item the article speaks about is planning for Long Term Health Care. Having an affordable plan for the physical, emotional and financial burdens Long Term Health Care can have on loved ones is an important part of your retirement plan. If you don't plan, all that hard work and savings you have done with your 401k's and IRA's goes down the drain.

The article says, in part, "The odds of needing long term care in retirement (either in-home care, or skilled care) is 70%. The odds of either you or your spouse needing this care is 91%. This care isn't cheap, and the cost goes up every year. Again, if you're rich, no worries. But if you're not, unless you relish the thought of your loved ones changing your diapers one day, you might want to consider long term care insurance, or consider life insurance with a rider to allow you to access your death benefits if you need the money for long term care.

Read this article from the Motley Fool and the learn more about affordable Long Term Care Insurance at http://mccannltc.net/

Here is the article: http://www.fool.com/investing/general/2015/03/28/read-this-before-you-retire.aspx

 

Many states have partnership programs available which provide dollar for dollar asset protection if you have a qualified policy. The Long-Term Care Partnership Program is a collaboration between state government and insurance companies. Under this partnership, applicants who purchase qualifying long-term care insurance policies can access Medicaid coverage while retaining assets they would normally be required to spend on their long-term care. This is referred to as dollar for dollar asset protection.

 

The time to plan is now.